Steelers, Mike Wallace done talking contract until next year

Posted by Michael David Smith on September 9, 2012, 12:12 AM EST

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The opening Sunday of the NFL season is finally upon us, which is cause for much celebration. But it’s also the end of any hope that the Steelers and receiver Mike Wallace could reach an agreement on a new long-term contract.

Wallace has indicated that he wants at least as much money as the five-year, $55 million contract that Vincent Jackson got from the Buccaneers, but $11 million a year on a long-term contract may be tough for Wallace to get any time soon. If Wallace has a good year this year, the Steelers are likely to slap him with the franchise tag. If he doesn’t have a good year, and the Steelers decide he’s not worth the franchise number, then other teams probably wouldn’t view him as worth $11 million a year, either.

So Wallace may not get the contract he wants in 2013. And he definitely won’t get the contract he wants in 2012.

I feel Wallace won’t have a good season because of the time he lost trying to learn Todd’s new offense………but stranger things have happened in the 412.

GO STEELERS!!!!!!

staffordsyear says:Sep 9, 2012 12:30 AM

Well i tell ya what..i drafted you today with my 3rd pick so you better show up this year for me! and not act like a frumpy grumpy diva that cries because he didnt get the contract
you wanted…help me out mike,ive liked ya since ole miss.

Really unfair that his family should get 20 Million less than Brown because the Steelers can get creative with terms of the CBA. Players shouldn’t be able to be singled out like this in their one shot.

This is the same report coming out of the Pittsburgh newspapers all week – “essentially dead”, “unlikely to happen”. But, Colbert controls the messages out of his office to the press very tightly – the reporters are hearing what Colbert wants them to hear.

That doesn’t necessarily mean it won’t happen. Last year, the team signed Polamalu to a contract on Sept. 10th – right before the first game of the season. The Steelers have a lot of incentive to give Wallace his extra $5 million over 5 years right now – they have the cap room, and franchising him next season would put a huge strain on the cap in comparison to spreading $55 million over 5 years, with the majority of the hit to come in the final years of the deal.

The team has restructured quite a few deals and pushed several guys into retirement or cut them in order to get this deal done. It’s hard to believe they are going to give up this easily after putting that much effort into it.

Roethlisberger has spoken to Wallace, who is expected to finally report this weekend. “He’s been working out and working, not just on his conditioning and his strength, but working also on the offense,” Big Ben said. Wallace’s ability to pick up new OC Todd Haley’s scheme in two short weeks will be crucial. He has had a copy of the playbook since the spring.”
-rotoworld.com

I am not sure but I believe the franchise tag for a receiver will be over $11m next year. There is obviously value in a long term deal for the player. The Steelers will need the flexibility that a long term contract offers to fit Wallace under the cap. The Steelers only have $1.6m in cap space going into the season. They will have trouble paying Wallace the franchise number next year if they need to do any other deals.

steelersfan88007 says:Sep 9, 2012 1:32 AM

Granted, we all lack any true inside information, but from my understanding of what has traspired, this man is a fool.

I don’t think he needs to have a really good season, he just has to do what he does. Be a crazy deep threat. As long as he can bring in 12-15 of those bombs this year, teams are still going to see what they want. I don’t think he’ll get, or deserves, 11 mil a year, but I could see him getting hit with the tag next year just so he doesn’t walk. Something around 5 year 40 mil seems more reasonable to me though. Maybe 45

gettingpwned says:Sep 9, 2012 2:12 AM

Let’s see if he pulls a DeSean and short arms everything over the middle this year & only runs deep patterns.

raideralex99 says:Sep 9, 2012 2:15 AM

2TDs and over a 100yds Sunday night should prove Wallace is worth every penny.

In short, waiting 1 year longer for $1 Mil more equates to him having to work 7.3 years longer at $1 Mil more annually to make the same. In other words, it will take him 12.3 years from right now (assuming he gets what he’s after, no guarantee) in the NFL, being paid at the very top of receiver income bracket…to make the money back that he is passing up now.

It’s time for Mike Wallace to get that contract he deserves. It won’t be in Pittsburgh. They hate paying players.

bobzilla1001 says:Sep 9, 2012 3:37 AM

This thread is not news. The Steelers have been doing business this way for decades. Wallace cut his own throat by staying away from training camp. Valuable time was lost. He ought to fire his agent.

ohiosteelerfan1980 says:Sep 9, 2012 4:03 AM

Obviously the steelers made their minds up on who’s the go to guy. Antonio brown. Wallace is just a distraction and deep ball threat. I’ll be more than happy to keep Wallace but for the right price. Don’t over pay for him when the money could go to better uses. We got a great receiving group. Go steelers!!!!!

Mike screwed himself during this process. If he didn’t hold out, he could have gotten the contract he wanted. He instead waited till about almost 2 weeks before the season started and now instead of making some real money, he is playing for 2 million and will be behind as far as where he needs to be to get the type of success he needs to get paid.

Folks, sometimes common sense is an under-rated aspect of life, and Mike Wallace didn’t use common sense.

jimnaizeeum says:Sep 9, 2012 7:03 AM

“Wallace has indicated that he wants at least as much money as the five-year, $55 million contract that Vincent Jackson got from the Buccaneers”
——————————————————–
Not as productive as Jackson…not even close.
Past 3 years this guy has 12 touchdowns.

Same 3 years Jackson has 21 touchdowns & he missed 10 games in a holdout.

I read some of these comments and am amazed how clueless some people can be.

andrewproughcfe – First off, the Steelers CAN NOT pay Wallace $11 million THIS year. They have like $1.6 left under the cap. Second, Pittsburgh NEVER back loads a deal, because that isn’t how they operate.

dealer009 says: – Wallace turned down $7 million more than Brown got, so it is HIS fault he is making less.

dumbaseinstien says: – Learn math buddy. $2.74 million plus (4 x $11 million) = $46.74 NOT $42.7 million. After 5 years it is $57.74 million NOT $53.7 after 6.

jgrange says: – Pittsburgh hates paying players? Have you seen the contracts given out to LaMarr Woodley, Lawrence Timmons, Troy Polamalu, Ben Roethlisberger and others?

djspman says: – If not in the NFL Wallace would be doing something else with his speed? Like what, delivering overnight express packages for UPS?

PLEASE Steelers Nation, THINK before you post, you are making us look bad!

mr4thand1 says:Sep 9, 2012 7:57 AM

@andrejohnsonforpresident

Working out on your own with a trainer and a Playbook is one thing. Working out with your team, and more importantly, YOUR QUARTERBACK , and getting your rhythm, timing, and speed down is another.

They will NEVER give him Jackson money! If he has a monster year he’ll be tagged; another monster year, he’ll be tagged again, than see ya later!

tedmurph says:Sep 9, 2012 8:42 AM

@jimnaizeeum:

Nice fuzzy math, factoring in Wallace’s rookie yr. Wallaces last 2 yrs are as good or better than VJack’s best 2 yrs, he’s 3 yrs younger, and, unlike Jackson, hasn’t had any offfield probs. He’s worth every bit as much as VJ, and he’ll get it next yr.

==================================

@dumbaseinstein:

None of that stuff matters, it’s all about guaranteed $. ABrown, because he signed an extension, only received 8.5 guaranteed. That’s the giveback for signing a guy longterm early. Good business. Wallace wanted 25 mil guaranteed, like Jackson. Would have been crazy to sign steelers offer. He’ll get it next yr.

steeler fans, gotta love ’em.

bobzilla1001 says:Sep 9, 2012 8:47 AM

jimnaizeeum:
You simply don’t understand how things work in Steelers Country. Please allow me to explain: Yards mean more than points.
Last season, for example, Antonio Brown covered the length of 20 football fields as a receiver and kick returner but produced just four TDs. He was rewarded with a huge new contract.
Scoring TDs in the ‘Burgh has never been a top priority. It’s always been about the yards.

Well it’s a great deal for the Steelers because they will get what they want; Another year of the skills that Mike Wallace brings to the team. Moreover another year to evaluate his character on the team.